9,543,201 Shares in Keurig Dr Pepper Inc. (NASDAQ:KDP) Purchased by Norges Bank

Norges Bank bought a new position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 9,543,201 shares of the company's stock, valued at approximately $317,979,000. Norges Bank owned about 0.68% of Keurig Dr Pepper at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Achmea Investment Management B.V. increased its holdings in shares of Keurig Dr Pepper by 0.8% during the 3rd quarter. Achmea Investment Management B.V. now owns 38,847 shares of the company's stock worth $1,226,000 after purchasing an additional 324 shares during the period. Kentucky Retirement Systems increased its holdings in shares of Keurig Dr Pepper by 0.4% during the 4th quarter. Kentucky Retirement Systems now owns 80,555 shares of the company's stock worth $2,684,000 after purchasing an additional 344 shares during the period. Operose Advisors LLC increased its holdings in shares of Keurig Dr Pepper by 28.7% during the 3rd quarter. Operose Advisors LLC now owns 1,673 shares of the company's stock worth $53,000 after purchasing an additional 373 shares during the period. Mckinley Capital Management LLC increased its holdings in shares of Keurig Dr Pepper by 1.3% during the 3rd quarter. Mckinley Capital Management LLC now owns 35,749 shares of the company's stock worth $1,129,000 after purchasing an additional 470 shares during the period. Finally, Czech National Bank increased its holdings in shares of Keurig Dr Pepper by 0.3% during the 4th quarter. Czech National Bank now owns 176,335 shares of the company's stock worth $5,875,000 after purchasing an additional 502 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Keurig Dr Pepper Price Performance

Shares of KDP stock traded up $0.28 during trading hours on Tuesday, reaching $33.96. 5,827,066 shares of the company were exchanged, compared to its average volume of 9,878,972. Keurig Dr Pepper Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $34.65. The stock's fifty day moving average is $31.68 and its two-hundred day moving average is $31.62. The company has a market cap of $46.04 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 2.56 and a beta of 0.61. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.34.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its earnings results on Thursday, April 25th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.04. Keurig Dr Pepper had a net margin of 14.52% and a return on equity of 10.18%. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same period in the prior year, the business earned $0.34 earnings per share. Keurig Dr Pepper's quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that Keurig Dr Pepper Inc. will post 1.91 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.215 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.86 annualized dividend and a yield of 2.53%. Keurig Dr Pepper's dividend payout ratio is currently 55.48%.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, CEO Robert James Gamgort acquired 171,821 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average cost of $29.10 per share, for a total transaction of $4,999,991.10. Following the completion of the acquisition, the chief executive officer now directly owns 3,179,917 shares of the company's stock, valued at approximately $92,535,584.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Priyadarshi Sudhanshu bought 85,910 shares of the stock in a transaction on Tuesday, March 5th. The stock was purchased at an average price of $29.10 per share, with a total value of $2,499,981.00. Following the completion of the purchase, the chief financial officer now owns 218,566 shares of the company's stock, valued at $6,360,270.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert James Gamgort bought 171,821 shares of the stock in a transaction on Tuesday, March 5th. The stock was purchased at an average cost of $29.10 per share, with a total value of $4,999,991.10. Following the purchase, the chief executive officer now directly owns 3,179,917 shares of the company's stock, valued at approximately $92,535,584.70. The disclosure for this purchase can be found here. Insiders have sold 100,085,652 shares of company stock worth $2,892,832,080 over the last ninety days. Company insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KDP. Barclays upped their target price on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Monday, April 29th. TD Cowen upped their target price on shares of Keurig Dr Pepper from $32.00 to $35.00 and gave the company a "hold" rating in a research note on Friday, April 26th. Jefferies Financial Group lowered their target price on shares of Keurig Dr Pepper from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, March 27th. Morgan Stanley lowered their target price on shares of Keurig Dr Pepper from $37.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Monday, February 26th. Finally, Wedbush lowered their target price on shares of Keurig Dr Pepper from $37.00 to $35.00 and set an "outperform" rating on the stock in a research note on Monday, February 26th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.64.

Keurig Dr Pepper Profile

Keurig Dr Pepper Inc owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. It operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. The U.S. Refreshment Beverages segment manufactures and distributes branded concentrates, syrup, and finished beverages.